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AT&T to Snap Up Convergys Assets for $320 Million

Article Comments  29  

Jun 2, 2011, 8:37 PM   by Eric M. Zeman   @phonescooper

AT&T has announced its intent to acquire the wireless operations owned by Cincinnati-based Convergys. Convergys has ownership of two wireless ventures in Cincinnati. It has a 34% stake in Cincinnati SMSA and a 45% limited-partnership interest in Cincinnati SMSA Tower Holdings. AT&T already owns the remaining 66% and 55%, respectively, of these two entities. AT&T will spend $320 million in cash to purchase Convergys' interests in the Cincinnati SMSA and Cincinnati SMSA Tower Holdings businesses so that it fully owns both. The companies contend that the sale doesn't require regulatory approval because AT&T is already the major shareholder of both businesses. The sale is expected to close in early July.

more info at Reuters »

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Comments

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Vincent513

Jun 2, 2011, 9:41 PM

Cool... the city I live in.

I live in cincinnati & I have AT&T LOL nice... but dammmm AT&T is greedy... they want to buy t-mobile for $39 billion now this... they sure don't give up...
What do you mean "now this."

AT&T already owns the majority of the shares. This just changes it from "Convergys" to "AT&T". They already *use* the assets, they just arent reportable as company owned despite all but owning them anyways.
I just love the double standard and inconsistency from at&t critics....

We go from

'at&t sucks, they had better do something to improve the quality of their network'

And then when they try to acquite more spectrum to be able to do that it's
...
(continues)
...
what's all this talk in here about spectrum and networks and ish? this article had NOTHING to do with any of that.
...
Researcher

Jun 3, 2011, 12:54 PM

As a former Convergys

employee and manager, I am not sure this is a good thing. Convergys is a worldwide customer service and billing company. They have hundreds of clients worldwide.

Could be AT&T as "chewed off more than they can bite".
I think you're a little confused about whats going on.
did you even read the article?
Yes.

But knowing Convergys and AT&T....
...
ALL of convergys, are they?
...
 
 
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